It has been about a month since the last earnings report for Adma Biologics (ADMA Quick QuoteADMA - Free Report) . Shares have added about 43.3% in that time frame, outperforming the S&P 500.

Will the recent positive trend continue leading up to its next earnings release, or is Adma Biologics due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.

ADMA's Q3 Earnings Match Estimates, Revenues Beat on Strong Asceniv Sales

ADMA Biologics reported third-quarter 2025 adjusted earnings per share (EPS) of 16 cents, which were in line with the Zacks Consensus Estimate. In the year-ago quarter, the company reported adjusted EPS of 15 cents.

Revenues of $134.2 million (up 12% year over year) beat the Zacks Consensus Estimate of $130 million.

Asceniv’s Performance Fuels ADMA’s Growth in Q3

ADMA Biologics markets plasma-derived biologics for the treatment of immune deficiencies and the prevention of certain infectious diseases.

The company’s top line currently comprises sales of three FDA-approved products — Bivigam (an Intravenous Immune Globulin [“IVIG”] product to treat primary humoral immunodeficiency), Asceniv (to treat primary immunodeficiency disease or PIDD) and Nabi-HB (to treat and provide enhanced immunity against the hepatitis B virus).

Asceniv, its lead product, is a plasma-derived IVIG that contains naturally occurring polyclonal antibodies. It is indicated for the treatment of PIDD or inborn errors of immunity in adults and adolescents. The product is manufactured using ADMA’s unique, patented plasma donor screening methodology and tailored plasma pooling design, which blends normal source plasma with respiratory syncytial virus plasma obtained from donors tested using the company’s proprietary microneutralization assay.

Asceniv achieved record utilization during the quarter, driven by strong prescriber adoption and growing patient demand.

Gross margin improved to 56.3% from 49.8%, driven by a favorable mix of higher-margin immunoglobulin (IG) sales and operational efficiencies that reduced manufacturing costs.

Research & Development expenses skyrocketed to $1.5 million from $0.4 million in the year-ago quarter. Selling, general and administrative expenses increased 17.3% to $21.8 million.

ADMA received FDA lot release authorization for its first yield-enhanced commercial batches. These lots are expected to significantly improve manufacturing efficiency and drive gross margin expansion beginning in the fourth quarter of 2025, with continued gains through 2026 and beyond.

However, ADMA stated that year-over-year net income growth was tempered by a higher effective tax rate and temporary competitive dynamics in standard IVIG markets, mainly impacting Bivigam.

ADMA Updates 2025 Guidance

ADMA now expects revenues of more than $510 million in 2025 (previous guidance: $500 million) and $630 million (previous guidance: $625 million) in 2026. Net income is now projected to exceed $158 million (previous guidance: $175 million) in 2025 due to a higher effective tax rate. Net income is now projected to exceed $255 million (previous guidance: $245 million) in 2026.

ADMA is in active negotiations to onboard additional distribution partners over the coming quarters, which would, if successful, broaden both Bivigam and Asceniv’s reach and support continued growth.

ADMA’s Progress With Another Candidate

ADMA continues to advance SG-001, a hyperimmune globulin targeting S. pneumonia.

A CNPV application has been submitted, and if accepted, could accelerate FDA review by two quarters or more. SG-001 demonstrated preclinical efficacy, and if successfully advanced to market, it could represent an approximately $300-$500 million annual high-margin opportunity protected through at least 2037.

Other Updates From ADMA

ADMA expects constructive 2026 payer negotiations to expand coverage next year, further supporting growth.



 

How Have Estimates Been Moving Since Then?

Since the earnings release, investors have witnessed a upward trend in estimates revision.

The consensus estimate has shifted 5.56% due to these changes.

VGM Scores

At this time, Adma Biologics has a subpar Growth Score of D, a grade with the same score on the momentum front. Following the exact same course, the stock has a grade of D on the value side, putting it in the bottom 40% for value investors.

Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

Estimates have been trending upward for the stock, and the magnitude of this revision looks promising. Notably, Adma Biologics has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Performance of an Industry Player

Adma Biologics belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Vertex Pharmaceuticals (VRTX Quick QuoteVRTX - Free Report) , has gained 9.9% over the past month. More than a month has passed since the company reported results for the quarter ended September 2025.

Vertex reported revenues of $3.08 billion in the last reported quarter, representing a year-over-year change of +11%. EPS of $4.80 for the same period compares with $4.38 a year ago.

Vertex is expected to post earnings of $4.98 per share for the current quarter, representing a year-over-year change of +25.1%. Over the last 30 days, the Zacks Consensus Estimate has changed +0.4%.

The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Vertex. Also, the stock has a VGM Score of C.